Bill Details
HR.1474 - 119th Congress
Status
Latest action
2025-03-21 - Placed on the Union Calendar, Calendar No. 13.
Introduced Date
2025-02-21
Policy Area
International Affairs
Committees
View committees (1)
Sponsors
Cosponsors
View cosponsors (2)
3
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AI Summary This summary was generated by AI from the bill text. AI can get information wrong.
This bill would push the United States to support nuclear energy financing at major international lenders, such as the World Bank and the European Bank for Reconstruction and Development. It tells U.S. officials at these institutions to work for more funding and technical help for nuclear power projects, especially where the technology meets U.S. or allied safety and quality standards. The bill also calls for special trust funds at these banks to help pay for and advise nuclear energy projects in other countries, with the goal of expanding clean power and reducing the influence of rival countries that already finance nuclear projects abroad.
- U.S. Treasury would direct American representatives at international financial institutions to advocate for removing bank rules that block support for nuclear energy, as long as the technology meets strong safety and quality standards.
- The bill would also push these institutions to build more internal expertise so they can better judge whether nuclear energy fits a client country’s power needs.
- It would create “Nuclear Energy Assistance Trust Funds” at the World Bank, the European Bank for Reconstruction and Development, and possibly other institutions to provide money and technical help for nuclear power in borrowing countries.
- These trust funds would be used to make financing competitive, support only nuclear technologies that meet U.S. or allied standards, and strengthen the banks’ ability to review and carry out nuclear projects.
- For seven years, the National Advisory Council on International Monetary and Financial Policies would have to report each year on progress made in supporting nuclear energy financing and setting up the trust funds.
- The law would expire 10 years after it takes effect.
Official Summaries
No summaries available
Current Full Text
[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1474 Reported in House (RH)]
<DOC>
Union Calendar No. 13
119th CONGRESS
1st Session
H. R. 1474
[Report No. 119-23]
To provide for advocation of support for nuclear energy, and establish
a nuclear energy assistance trust fund, at the World Bank, the European
Bank for Reconstruction and Development, and other international
financial institutions, as appropriate, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
February 21, 2025
Mr. Hill of Arkansas (for himself and Mr. Torres of New York)
introduced the following bill; which was referred to the Committee on
Financial Services
March 21, 2025
Additional sponsor: Mr. Donalds
March 21, 2025
Reported with an amendment, committed to the Committee of the Whole
House on the State of the Union, and ordered to be printed
[Strike out all after the enacting clause and insert the part printed
in italic]
[For text of introduced bill, see copy of bill as introduced on
February 21, 2025]
_______________________________________________________________________
A BILL
To provide for advocation of support for nuclear energy, and establish
a nuclear energy assistance trust fund, at the World Bank, the European
Bank for Reconstruction and Development, and other international
financial institutions, as appropriate, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``International Nuclear Energy
Financing Act of 2025''.
SEC. 2. FINDINGS.
Congress finds the following:
(1) Nuclear power is an emissions-free energy source that
produces approximately 30 percent of the world's low-carbon
electricity. In 2021, 33 countries operated nuclear power
plants.
(2) The People's Republic of China and the Russian
Federation have sought to export nuclear reactors to Europe,
Eurasia, Latin America, Africa, and South Asia. According to a
2017 study by Columbia University's Center on Global Energy
Policy, Chinese and Russian nuclear reactors are associated
with higher safety risk than Western nuclear reactors. In
addition, financial and operational support for nuclear power
can extend over decades, allowing Beijing and Moscow to secure
long-term influence in both advanced and developing economies.
(3) The Russian Federation is currently building 21
reactors outside its borders, while the People's Republic of
China is assembling more than a third of reactors under
construction globally. According to research published in
Nature Energy in February 2023, when the Russian Federation
launched its invasion of Ukraine in 2022, Russian state-owned
nuclear operator Rosatom ``boasted as many as 73 different
projects in 29 countries. The projects were at very different
stages of development from power plants in operation; through
construction of reactors ongoing, contracted, ordered or
planned; to involvement in tenders, invitations to partnerships
or officially published proposals. On top of that, Russian
companies have bilateral agreements or memoranda of
understanding (MoUs) with 13 countries for services or general
joint development of nuclear energy.''.
(4) In its report, ``International Status and Prospects for
Nuclear Power 2021'', the International Atomic Energy Agency
wrote, ``A total of 28 countries have expressed interest in
nuclear power and are considering, planning or actively working
to include it into their energy mix. Another 24 Member States
participate in the Agency's nuclear infrastructure related
activities or are involved in energy planning projects through
the technical cooperation programme. Ten to twelve embarking
Member States plan to operate NPPs [nuclear power plants] by
2030-2035, representing a potential increase of nearly 30% in
the number of operating countries. Several embarking countries
have also expressed interest in SMRs [small modular reactors]
technology, in particular Estonia, Ghana, Jordan, Kenya,
Poland, Saudi Arabia and Sudan, as well as expanding countries
such as South Africa.''.
(5) On December 2, 2023, the United States, alongside more
than 20 other countries, pledged to triple nuclear energy
capacity by 2050 and support the financing of nuclear energy
through the World Bank and regional development banks, so as to
``encourage the inclusion of nuclear energy in their
organizations' energy lending policies as needed, and to
actively support nuclear power when they have such a mandate''.
SEC. 3. MULTILATERAL DEVELOPMENT BANK SUPPORT FOR NUCLEAR ENERGY.
Title XV of the International Financial Institutions Act (22 U.S.C.
262o et seq.) is amended by adding at the end the following:
``SEC. 1506. MULTILATERAL DEVELOPMENT BANK SUPPORT FOR NUCLEAR ENERGY.
``The Secretary of the Treasury shall instruct the United States
Executive Director at the International Bank for Reconstruction and
Development, the European Bank for Reconstruction and Development, and,
as the Secretary finds appropriate, any other multilateral development
bank (as defined in section 1307(g)) to use the voice, vote, and
influence of the United States to advocate for--
``(1) the removal of prohibitions at the respective bank
against financial and technical assistance for the generation
and distribution of nuclear energy, to the extent that the
prohibitions apply to nuclear technologies that meet or exceed
the quality standards prevalent in the United States or a
country allied with the United States; and
``(2) increased internal capacity-building at the
respective bank for the purpose of assessing--
``(A) the potential role of nuclear energy in the
energy systems of client countries; and
``(B) the delivery of financial and technical
assistance described in paragraph (1) to the
countries.''.
SEC. 4. ESTABLISHMENT OF NUCLEAR ENERGY ASSISTANCE TRUST FUNDS.
Title XV of the International Financial Institutions Act (22 U.S.C.
262o et seq.) is further amended by adding at the end the following:
``SEC. 1507. ESTABLISHMENT OF NUCLEAR ENERGY ASSISTANCE TRUST FUNDS.
``(a) In General.--The Secretary of the Treasury shall instruct the
United States Governors of the International Bank for Reconstruction
and Development, the European Bank for Reconstruction and Development,
and, as the Secretary deems appropriate, other international financial
institutions (as defined in section 1701(c)(2)) to use the voice, vote,
and influence of the United States to establish at each such
institution a trust fund to be known as the `Nuclear Energy Assistance
Trust Fund' that meets the requirements of subsections (b) and (c) of
this section.
``(b) Purposes.--The purposes of such a trust fund shall be the
following:
``(1) To provide financial and technical assistance to
support the generation and distribution of nuclear energy in
borrowing countries.
``(2) To ensure that the international financial
institution makes financing available on competitive terms,
including for the purpose of countering credit extended by the
government of a country that is not a member of the OECD
Arrangement on Officially Supported Export Credits.
``(3) To exclusively support the adoption of nuclear energy
technologies that meet or exceed the quality standards
prevalent in the United States or a country allied with the
United States.
``(4) To strengthen the capacity of the international
financial institution to assess, implement, and evaluate
nuclear energy projects.
``(c) Use of Trust Fund Revenues.--The revenues of such a trust
fund shall be made available for activities for the purposes described
in subsection (b), or the United States share of the revenues shall be
remitted to the general fund of the Treasury, as the Secretary finds
appropriate.
``(d) Rule of Interpretation.--This section shall not be
interpreted to affect the ability of the United States Governor of, or
the United States Executive Director at, an international financial
institution (as so defined) to encourage the provision of financial or
technical assistance from non-trust fund resources of the institution
to support the generation or distribution of nuclear energy.''.
SEC. 5. INCLUSION IN ANNUAL REPORT.
During the 7-year period that begins with the date of enactment of
this Act, the Chairman of the National Advisory Council on
International Monetary and Financial Policies shall include in the
annual report required by section 1701 of the International Financial
Institutions Act a description of any progress made--
(1) to promote multilateral development bank (as defined in
such section) assistance for nuclear energy; and
(2) to establish a trust fund pursuant to section 1507 of
such Act or, as the case may be, a summary of the activities of
any such trust fund.
SEC. 6. SUNSET.
This Act and the amendments made by this Act shall have no force or
effect beginning 10 years after the date of the enactment of this Act.
Union Calendar No. 13
119th CONGRESS
1st Session
H. R. 1474
[Report No. 119-23]
_______________________________________________________________________
A BILL
To provide for advocation of support for nuclear energy, and establish
a nuclear energy assistance trust fund, at the World Bank, the European
Bank for Reconstruction and Development, and other international
financial institutions, as appropriate, and for other purposes.
_______________________________________________________________________
March 21, 2025
Reported with an amendment, committed to the Committee of the Whole
House on the State of the Union, and ordered to be printed